AG Mortgage Investment Trust, Inc. (NYSE:MITT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

AG Mortgage Investment Trust, Inc. (NYSE:MITT) has been given an average rating of “Moderate Buy” by the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $9.1429.

MITT has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of AG Mortgage Investment Trust in a research note on Friday, April 17th. BTIG Research upgraded AG Mortgage Investment Trust from a “neutral” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Wednesday, June 17th. Finally, Keefe, Bruyette & Woods dropped their price objective on AG Mortgage Investment Trust from $9.00 to $8.50 and set a “market perform” rating for the company in a research note on Friday, May 1st.

AG Mortgage Investment Trust Stock Performance

Shares of NYSE MITT opened at $8.09 on Thursday. The business has a fifty day simple moving average of $7.81 and a 200 day simple moving average of $8.12. The company has a current ratio of 10.33, a quick ratio of 10.33 and a debt-to-equity ratio of 23.76. The firm has a market capitalization of $257.10 million, a price-to-earnings ratio of 20.21 and a beta of 1.63. AG Mortgage Investment Trust has a one year low of $6.86 and a one year high of $9.27.

AG Mortgage Investment Trust (NYSE:MITT) last issued its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The business had revenue of $6.47 million during the quarter, compared to analyst estimates of $21.97 million. AG Mortgage Investment Trust had a return on equity of 15.02% and a net margin of 6.71%. Sell-side analysts expect that AG Mortgage Investment Trust will post 1.09 EPS for the current year.

AG Mortgage Investment Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 11.9%. The ex-dividend date is Tuesday, June 30th. AG Mortgage Investment Trust’s dividend payout ratio is currently 240.00%.

Institutional Trading of AG Mortgage Investment Trust

Large investors have recently made changes to their positions in the business. Kemnay Advisory Services Inc. bought a new stake in shares of AG Mortgage Investment Trust during the fourth quarter worth $40,000. Strs Ohio bought a new stake in shares of AG Mortgage Investment Trust during the first quarter worth $39,000. BNP Paribas Financial Markets grew its holdings in shares of AG Mortgage Investment Trust by 103.7% during the third quarter. BNP Paribas Financial Markets now owns 5,413 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 2,756 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of AG Mortgage Investment Trust by 103.8% during the third quarter. Russell Investments Group Ltd. now owns 7,095 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 3,614 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of AG Mortgage Investment Trust by 258.4% during the third quarter. Public Employees Retirement System of Ohio now owns 8,960 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 6,460 shares during the last quarter. Institutional investors own 27.32% of the company’s stock.

About AG Mortgage Investment Trust

AG Mortgage Investment Trust, Inc is a publicly traded, closed-end management investment company that primarily focuses on investing in U.S. residential mortgage assets. The firm seeks to generate current income for its shareholders by acquiring a diversified portfolio of mortgage loans and mortgage-backed securities. As an externally managed mortgage real estate investment trust (REIT), AG Mortgage Investment Trust aims to deliver attractive risk-adjusted returns through active portfolio management and interest rate hedging strategies.

The company’s investment portfolio is concentrated in adjustable-rate residential mortgage loans, including so-called “jumbo” prime ARMs, as well as Agency and non-Agency residential mortgage-backed securities (RMBS).